Plain language law

New Zealand law explained for everyone

Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Board of Bank and its members - Collective duties of board

46: Manner in which functions must be performed

You could also call this:

"How the Reserve Bank must work efficiently and help the public"

Illustration for Reserve Bank of New Zealand Act 2021

You need to perform functions in a certain way. The board must make sure the Bank works efficiently and effectively. The Bank must also work in a way that helps the public and collaborates with other public entities, like those in the Public Audit Act 2001, when possible.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287073.

This page was last updated on — View changes

Topics:
Money and consumer rights > Banking and loansGovernment and voting > Government departments
Previous

45: Bank must act consistently with objectives, functions, statement of intent, and statement of performance expectations, or

"The Bank must follow its plans and rules when making decisions."

Next

47: Bank must operate in financially responsible manner, or

"The Bank must be careful with its money and follow the rules."

Part 2Reserve Bank of New Zealand
Board of Bank and its members: Collective duties of board

46Manner in which functions must be performed

  1. The board must ensure that the Bank performs its functions—

  2. efficiently and effectively; and
    1. in a manner consistent with the spirit of service to the public; and
      1. in collaboration with other public entities (within the meaning of that term in the Public Audit Act 2001) where practicable.

        Compare